Gilead Acquires Ouro, Partners Galapagos for Autoimmune Drug

(GILD) entered a definitive agreement to acquire privately held Ouro Medicines for $1.675 billion upfront cash, with up to $500 million in additional milestone payments, aiming to strengthen its inflammation and autoimmune disease portfolio. The acquisition adds OM336 (gamgertamig), a clinical-stage BCMAxCD3 T cell engager, currently in Phase 1/2 studies for autoimmune hemolytic anemia and immune thrombocytopenia, with registrational studies planned for 2027.

OM336 has demonstrated strong early efficacy and a differentiated safety profile, offering potential for durable immune reset and drug-free remission in certain patients. Gilead is also in advanced discussions with Galapagos NV (GLPG) for a research and development collaboration related to these acquired assets.

Under this proposed collaboration, Galapagos would fund 50% of the upfront and milestone payments, assume most of Ouro's operations and employees, and bear OM336 development costs through registrational studies, sharing costs equally thereafter. Gilead retains global commercialization rights, excluding Greater China, and will pay Galapagos royalties ranging from 20% to 23% of net sales.

Gilead Sciences closed trading 0.09% higher at $137.34 on the Nasdaq, while Galapagos closed 0.34% lower at $31.90.